TransCanada buyout offer sends Columbia Pipeline shares up 6 percent

March 19, 2016 at 4:45PM
FILE - This July 25, 2011, file photo, shows the Sheraton Fort Lauderdale Beach Hotel, a member of the Starwood Hotels and Resorts group, in Fort Lauderdale, Fla. A fight for control of the Starwood hotel chain is under way after a buyout offer from a consortium led by China’s Anbang Insurance Group. Starwood Hotels & Resorts Worldwide Inc. said Monday, March 14, 2016, that it still favors the bid from Marriott, but that it’s looking at the latest bid. (AP Photo/Wilfredo Lee, File)
Starwood Hotels jumped 8 percent on Monday. Above, Sheraton Fort Lauderdale Hotel, part of Starwood. (The Minnesota Star Tribune)

Pipeline flowing: Columbia Pipeline Group climbed 6 percent to $24.84 Friday after TransCanada Corp. agreed to buy the company for $10 billion, or $25.50 per share, in an attempt to expand further into the U.S.

Burned: Williams-Sonoma lost 6.3 percent, to $55.71 Thursday after the seller of cookware and home furnishings disclosed disappointing fourth-quarter results and gave a disappointing outlook for 2016. Weak performance at Pottery Barn was a key factor. Shares closed Friday at $56.73.

Check-in: Starwood Hotels jumped 8 percent to $75.93 Monday after a consortium led by China's Anbang Insurance Group offered to buy the hotel chain for $14 billion. On Friday, Starwood said it would terminate a plan to be acquired by Marriott International. Starwood shares closed the week at $80.57.

Food play: The Fresh Market jumped 23.5 percent, to $28.39 Monday after private equity firm Apollo Global said it will buy the grocery store chain for $1.3 billion, or $28.50 per share. The stock closed Friday at $28.52.

Study surge: Drug developer GW Pharmaceuticals more than doubled Monday to $84.71 after it reported positive results from a late-stage study of its drug Epidiolex, an experimental seizure disorder treatment. GW shares closed the week at $72.72.

Valeant tumbles: Valeant Pharmaceuticals' preliminary fourth-quarter profit disappointed investors and the drugmaker cut its estimates for 2016. It's already under scrutiny from Congress over drug prices. The stock dropped 30.9 percent, to $47.70 Tuesday. Shares closed the week at $26.98.

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Leila Navidi

The announcement is part of a $1.3 billion payout to employees of the Atlanta-based carrier.

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